Quotex Review 2026: Safety Check, Payouts & Testing Data

What Is Quotex?

Quotex is a digital options trading platform launched in 2019–2020 and operated by ON SPOT LLC GROUP, registered in St. Kitts and Nevis. Quotex uses the term “digital options” for its own branding of fixed-time or binary-style trading. Traders predict whether an asset’s price will finish above or below its entry price when the trade expires. A correct prediction earns the displayed payout, while a wrong prediction loses the full stake.

Our research found that Quotex’s IFMRRC certification expired on November 9, 2021, and has not been renewed or replaced based on available public records. Therefore, Quotex is operating today without any active license from a government regulator. The broker doesn’t have any kind of industry self-certification that a broker Unlike Binomo and Olymp Trade, which still maintain industry certifications through the FMRRC or Financial Commission. We also found a public warning issued by the Financial Commission referencing trader complaints against a Quotex-linked entity. This is another important warning to consider. This does not mean Quotex is dishonest, as some unregulated platforms operate normally for years. However, Quotex differs from platforms that still have some form of active third-party oversight. Traders should consider the lack of current certification when deciding how much capital to risk.

On the product side, Quotex offers digital options across roughly 400 tradable assets according to the platform's own listings, including forex, cryptocurrencies, stocks, commodities, and indices. It also offers scheduled tournaments and a built-in trading signals tool that claims a certain accuracy rate. The platform runs entirely through a browser and a companion Android app. We found no dedicated desktop client or official iOS app during testing, which limits options for iPhone users.

For this review, BrokersProfile opened a Standard account, deposited $20 via cryptocurrency, and traded digital options across multiple sessions. We tracked payout behavior, verification requirements, withdrawal timing, and support quality from start to finish.

We also want to be honest about a methodological limit specific to this review. Pro and VIP requirements vary across sources; therefore, we only tested the Standard account. Any higher-tier claims are based on Quotex’s published information, not our independent testing. This is an essential distinction because some of Quotex’s marketing claims could not be independently verified, particularly regarding its regulatory status.

How We Reviewed Quotex

We registered a live Standard account and funded it with $20 using USDT. We followed Quotex’s preference for using the same channel for crypto deposits and withdrawals. We placed digital options trades across ten frequently traded instruments at varying points in the day. We tested the built-in signals tool against our own independent chart reading. We also entered one scheduled tournament, and submitted a withdrawal request to close out the testing cycle.

Affiliation Disclosure

BrokersProfile's review process is editorially independent of any commercial relationship with Quotex. Affiliate arrangements, where they exist, do not shape our scores or conclusions.

Payout Monitoring

We recorded live payout percentages on ten instruments including EUR/USD, gold, and several cryptocurrency pairs. We tested at different hours across our testing window and compared the results with platform's advertised range and against payouts we recorded on comparable platforms in earlier reviews.

Signals Tool Testing

Quotex promotes an in-platform signals feature with a self-reported high accuracy figure. We recorded signals during testing and tracked their outcomes independently to compare the tool’s actual hit rate with its advertised accuracy.

Deposit and Withdrawal Testing

We funded the account via cryptocurrency and later submitted a withdrawal request to the same wallet. We also measured the process duration from submission to funds actually clearing on-chain.

Customer Support Mystery Shopping

We initiated five standardized questions through live chat covering verification requirements, the current status of Quotex's regulatory certification, withdrawal processing time, the difference between Standard, Pro, and VIP tiers, and how tournament prizes are distributed.

Regulatory Verification

We checked the IFMRRC's own public records for Quotex's certification status. We confirmed the November 2021 expiry date, and searched for any newer license or certification issued to ON SPOT LLC GROUP or any linked Quotex entity. We found none current as of this review.

Our Testing Methodology

What We Found During Our Testing

Payouts

Quotex’s payouts varied during our testing. On the Standard account, EUR/USD payouts ranged from 75% to 87%, depending on the time of day and closeness to scheduled news.

Cryptocurrency-linked options showed a wider band, from roughly 70% up to the low 90s. We did not have access to a funded Pro or VIP account within our testing deposit. So, we were not able to independently verify the platform's advertised higher payout tiers at those levels. We can only confirm Quotex’s public claims of payouts up to about 95% on Pro and 98% on VIP.

Signals Tool

We logged 40 signals generated by the built-in tool during our testing window. We tracked their outcomes without acting on each. We got a slight below outcome as compared to the platform’s advertised accuracy. Our sample was not large enough to confirm the result, but the results suggest that traders should carefully consider this advertised accuracy. Traders using this tool should track its performance over a longer period before relying on it for trades.

Order and Trade Behavior

Digital options settled at the displayed expiry time in every trade we placed. We didn’t experience any discrepancy between the quoted countdown and the actual resolution moment. This reliability remained consistent across all sessions, which is essential for fixed-time trading.

Account Opening

Our registration process took just a couple of minutes using an email and password. We were able to access the demo account immediately with no ID check required. However, we needed to make a deposit to move to a funded live account. We were able to place live trades before completing full identity verification. Though Quotex's terms require KYC documents before they process a withdrawal. We submitted our ID and selfie before requesting a withdrawal to avoid delays. Verification was completed in about a day and a half.

Withdrawals

Our $15 crypto withdrawal request was approved within several hours and the funds cleared on-chain shortly after approval. We consider it faster than the card and bank-transfer timelines described in Quotex's own terms and in third-party reporting we cross-checked. However, we'd highlight that Quotex's client agreement reserves the right to take up to seven business days to review a withdrawal request before it is approved. Some published reporting notes a potential fee on a third same-day withdrawal request. We recommend traders to check the current terms for details before relying on a specific timeline.

Customer Support

Live chat connected quickly for most of our queries. When we asked about its current regulatory certification, they gave us an uncertain response and did not directly explian the expired IFMRRC certification. The agent gave general security and safety information instead of confirming the certification status. Every other query was answered clearly and accurately on first contact.

Our Honest Take at BrokersProfile

Quotex is easy to use, and our tests found its trade settlement reliable. Trades resolved exactly when they were supposed to. The interface itself is about as low-friction as this category gets. This is useful for traders who want to try digital options without dealing with a complicated platform.

However, we have serious concerns about its regulation, and we want to be clear about them. Quotex operated for a period under IFMRRC certification, but that certification expired in November 2021. As far as we can verify, it has not been replaced since. This is weaker position than Olymp Trade, which has an active VFSC license and FinaCom membership, or Binomo, which has active FMRRC certification and IFC Category A membership.

Both platforms have some form of current third-party oversight. Our research shows that Quotex currently does not such an oversight. The Financial Commission has also issued a public warning about trader complaints, while the RBI has listed Quotex among unauthorized platforms. This means Quotex has less external oversight than some of its direct competitors.

Our signals test also raised concerns. The results were well below the platform’s advertised accuracy. While our sample does not prove the tool is unreliable, we recommend traders to test its performance themselves rather than rely on the advertised figure. Quotex also lacks a dedicated desktop client and official iOS app, unlike competitors that offer apps for both major mobile platforms. This is a real usability limitation for many users rely specifically on platform focused on quick, repeated trades.

Our Verdict: Quotex earns a BP Score™ of 62/100. The platform is accessible, cheap to start on, and mechanically reliable in trade settlement. However, it currently operates without any active regulatory license or industry certification. It also carries a public Financial Commission warning tied to trader complaints and sits on India's RBI alert list. Additionally, its marketed signals accuracy did not hold up well against our own independent tracking. This is the weakest regulatory profile of the fixed-time platforms we've reviewed. We'd only recommend it to traders who understand these risks and limit their experience accordingly.

We'd also warn traders about how third-party bodies market Quotex online. Quotex’s low deposit and high advertised payouts make it popular with affiliates. But many reviews and social posts promote it without mentioning its expired certification.

We'd encourage anyone researching this broker to look beyond its advertised payouts and generous demo account. We recommend them to specifically search for the platform's current regulatory status before depositing. In our experience, this took some effort to verify because Quotex does not clearly mention it in its own materials.

Is Quotex Safe? – Regulation & Safety

Quotex holds no active license from a government financial regulator and. Based on our research, it has no current certification from an industry self-regulatory body. This is a different position from most of the fixed-time and digital options platforms we cover.

Regulatory Status – Verified 2026

We want to be clear: an expired certification does not prove misconduct, and Quotex may still process deposits, trades, and withdrawals as claimed. However, the absence of any current government or industry oversight means traders have little external support if a dispute with Quotex cannot be resolved internally. This causes higher risk than traders will experience using a broker with some industry oversight. It is also important to explain what active certifications like those held by Olymp Trade and Binomo actually provide.

IFC or FMRRC periodically review a member broker's complaint history, conduct handling, and financial practices against their own internal standards. A member with many unresolved disputes could lose its membership. It is weaker than government regulation, but it still provides some oversight. If it expires, that extra layer of accountability is gone. Today, Quotex has no such check in place, unlike platforms that still have some form of oversight.

Security Practices

Client Fund Handling

Quotex states on its own site that client funds are held in segregated accounts. It claims that it uses encrypted data transmission and two-factor authentication for account access. We have no independent way to verify fund segregation claims in the absence of any regulator conducting external audits, so these remain broker-stated assurances rather than independently confirmed facts.

Loss Limited to Stake

As you experience on most of the similar digital options products, you can lose only the amount you stake on a single Quotex trade. There are no margin calls or negative balance risks on the core product.

No Independent Dispute Resolution Body

Because Quotex is not currently a member of the International Financial Commission or a certified member of the FMRRC, traders do not have access to the kind of independent, limited compensation fund that Olymp Trade and Binomo clients can contact for help. Any dispute with Quotex would need to be handled directly with the company or, in principle, through the courts of St. Kitts and Nevis. This is much harder for the average retail trader than using an industry complaint process.

Quotex Payouts & Trading Costs vs. Industry Average

Live-Tested Payout Data

Quotex’s payouts are similar to other fixed-time platforms we tested, with no clear advantage based on payout rates alone. Quotex’s payouts are similar to other platforms, but its regulatory position is weaker.

Real Cost of a Trade – Two Trader Profiles

Profile A – New Trader, Standard Account, $10 Stake, EUR/USD:

Observed payout: 81% | Stake: $10 | Potential profit if correct: approx. $8.10 | Maximum loss if incorrect: $10.00 (full stake).

This is similar to other fixed-time platforms we’ve reviewed. Here, you know the possible gain or loss before placing a trade. The main risk is the trading speed. Repeated trades can quickly lead to a series of losses, which is less common with traditional position trading.

Profile B – Pro Account Trader, EUR/USD, Larger Stake:

Broker-advertised payout uplift: approximately 2–3 percentage points above Standard on popular pairs | Stake: $25 | We were unable to independently verify Pro-tier payout figures within our testing deposit size.

We recommend traders to check the current rates before upgrading for higher payouts. They should verify the payout for their specific tier directly on the platform. They should not treat advertised rates as guaranteed because payout rates on platforms like this can change.

Quotex Trading Platforms

Quotex offers its own web platform and an Android app. There is no dedicated desktop application or official iOS app. This is a clear limitation compared with competitors that offer apps on both major mobile platforms.

Quotex Web Platform

The web platform is fully browser-based, with no download or install required on any device. It has a larger indicator library than we saw at either Olymp Trade or Binomo. Quotex advertises more than 30 technical indicators and oscillators. It offers more charting options than the simpler interfaces used by many other platforms in this category. You will experience rapid trade placement, and you can switch between demo and live balances without logging in again.

Quotex Mobile (Android)

The Android app copies the web platform's core functionality adequately. It offers fast trade placement and access to the same indicator set and signals tool. The absence of a native iOS app is a practical limitation for iPhone users. They are limited to the mobile-optimized web version, which works but it is not as polished or convenient offline as a dedicated app.

Quotex Account Types

Quotex operates three live account tiers plus a free demo, with payout percentages and withdrawal priority scaling by tier.

We want to highlight one important point about the Pro and VIP limits. Published figures for the required deposit vary across third-party sources and may have changed over time. Some report a $500 Pro requirement, while others cite up to $5,000. VIP figures range from about $1,000 to $10,000, depending on the source and possibly the region.

We were not able to fund an account at that level to independently confirm current requirements within this review's testing budget. Therefore, we'd strongly recommend traders to confirm the exact current figures directly in your account dashboard. They should not solely rely on any single published number, including ours.

Standard Account

The $10 Standard account gives full access to digital options trading, the signals tool, and tournament entry. Most of the new Quotex users start here, and it provides all features that majority of traders need to use the main product.

Pro Account

The Pro tier offers a small payout increase, more charting tools, and promotional deposit bonuses. Traders need to hold larger account balance to unlock this account. Traders should consider the higher capital requirement against the uncertain payout increase.

VIP Account

VIP – Quotex's top tier, advertises the platform's best available payout rates, faster withdrawal, and a personal account manager who can offer market observation. As with Pro, we were unable to independently verify VIP-tier terms within our testing deposit. Therefore, we would recommend traders to confirm current figures directly before committing larger capital to unlock this tier.

Demo Account

The demo account is a real strength here: it loads with $10,000 in virtual funds. It requires no ID verification and is accessible before you commit to anything at all. It closely follows live pricing, which makes it useful for tracking payout changes and testing the signals tool before risking real money.

Quotex Markets & Instruments

Quotex lists several hundred tradable assets across its digital options product, according to the platform's own instrument catalog.

We observed the significant instrument range than what we recorded at Olymp Trade or Binomo, mainly because it offers more stock options. Practically, most trading activity focuses on a smaller group of major forex and crypto pairs. This is common across similar platforms, where traders mainly use a few popular instruments only in the presence of several listed instruments.

We'd also note that instrument availability on Quotex changes somewhat based on a session. The full stock catalog is most active during US and European market hours. On the other hand, fewer forex and crypto pairs are available for weekend and off-hours trading.

This session-dependent availability is common across the category, not unique to Quotex. It is critical to know if you plan to trade outside standard market hours and expect the same full instrument list to be available around the clock.

Quotex Execution & Speed

We’ve reviewed several other fixed-time and digital options platforms. For these platforms, we measure execution quality by how accurately trades settle rather than how fast orders execute.

We recorded quite reliable trade settlement consistently similar to the quoted expiry. This is the baseline any platform in this category needs to clear. The signals tool performed below its advertised accuracy in our test. This was the main weakness while the rest of our testing was reliable. Traders should consider it if the signals tool is a key reason for choosing the platform.

Opening an Account with Quotex – Step-by-Step

1: Try the Demo

Access Quotex's platform directly and open the demo account, which loads with $10,000 in virtual funds and requires no registration or ID verification at this stage.

2: Get Registered

Create an account with an email address and password, or via a supported social login. Confirm your email through the verification link sent to your inbox.

3: Deposit Fund

Deposit a minimum of $10 via card, e-wallet, bank transfer, or cryptocurrency. Crypto deposits, particularly USDT, tended to process fastest in our testing.

4: Verify Account Before Withdrawing

Quotex allows live trading before full ID verification, but you will need to submit a government-issued ID and a selfie before your first withdrawal is processed. Completing this step early avoids delays when you're ready to withdraw.

5: Start Trading

Choose an instrument, select an expiry window, set your stake, and place your trade from the main interface. Check the tournament tab if you want to enter a scheduled competition.

Quotex Deposit & Withdrawal

Quotex states it charges no fees on deposits or standard withdrawals. Though the platform's own terms reserve the right to apply a fee under certain repeated-withdrawal conditions. Additionally, third-party payment processors can apply their own charges independently of Quotex's policy.

Our Live Withdrawal Test

Our $15 crypto withdrawal was approved within several hours and was confirmed shortly after. This was faster than the card and bank-transfer timelines described in both Quotex's own terms and independent third-party testing we cross-checked. This supports the platform’s guidance that crypto is the most reliable option for deposits and withdrawals.

Important Terms to Read Before Withdrawing

Quotex's client agreement reserves the right to take up to seven business days to review a withdrawal request. Some independent reporting notes a possible fee applied from a third same-day withdrawal request onward. We did not personally experience either of these conditions during our single withdrawal test. However, traders who plan multiple withdrawals in a short window should read the current terms directly. They should not assume that “no fees” always applies.

Quotex Leverage

Traditional CFD leverage does not apply to Quotex’s digital options. You can lose only the amount you stake on a trade. There is no margin, borrowed exposure, or risk of a negative balance with the core product.

Traders coming from a leveraged forex or CFD background looking for a specific leverage ratio will not find one here. The risk model is structurally different. It sets a fixed maximum loss for each trade instead of using leverage to increase exposure.

Country Availability

Quotex claims a very broad footprint. Some of the platform's own marketing cites nearly 249 countries – some countries are excluded or flagged.

Not Accepted or Flagged

It is important to mention India, as we have done in our other reviews. Quotex operates a dedicated Hindi-language site and India-specific marketing. Third-party reporting indicates it maintains an active local affiliate network. It offers all these features while remaining on the RBI’s list of unauthorized forex platforms since 2022.

Indian residents who deposit funds with Quotex do so without Indian regulatory protection. Banks are expected to flag or block payments to listed platforms under FEMA. If you're in India, or in any jurisdiction where a local regulator has issued a specific warning, we’d treat that warning as an important factor.

Quotex Customer Support

Support is available mainly through live chat, with continuous availability during our testing window.

Support Testing Results

Quotex handled four of our five queries clearly and accurately. We'd highlight the regulatory status as the main concern. When we asked about the expired IFMRRC certification, they responded generally about security and fund protection instead of clearly confirming its current status. Traders asking about regulation may receive an indirect answer. We recommend traders to check independent sources and do not rely only on a support agent’s response.

Quotex Education & Research

Quotex has an education section with digital options basics, a trading glossary, and simple technical analysis tutorials. It also offers a built-in signals tool for traders who do not want to read charts themselves. However, our testing found that its accuracy was below the advertised figure. Therefore, we recommend traders to not rely on it and should learn how to read the markets.

The education content is useful but limited compared with what dedicated multi-asset brokers offer. Quotex also has no research team providing daily market analysis. It doesn’t offer structured courses like those offered by many forex and CFD brokers. For a trader specifically trying to understand how digital options work, the education material covers the basics adequately. Traders who want to build deeper analytical skills will need to learn from other sources.

Quotex Mobile Trading

Quotex's mobile presence is limited to its Android app and a mobile-optimized version of the web platform. There is no official iOS app. For Android users, the app offers the same core features as the web platform. Our tests found fast and responsive trade placement, with the signals tool and tournament tab also available on mobile.

For iPhone users, the mobile website works but is less suitable than a native app. There are no push notifications for tournament updates, and users must access it through a browser instead of a dedicated app. This is a real practical limitation relative to Olymp Trade and Binomo, both of which offer native apps across iOS and Android. iPhone users should consider this limitation before choosing Quotex over a competitor with a dedicated iOS app.

Quotex Overnight Funding / Swap Rates

Quotex's digital options settle within their own preset expiry window and do not roll over. So, there is no overnight financing or swap charge on the platform's core trading product. This is common across all fixed-time and digital options platforms we’ve reviewed. Traders who want to hold leveraged positions overnight are looking for a different product than Quotex offers.

Quotex VPS Hosting & Algorithmic Trading

Quotex does not support Expert Advisors, algorithmic trading, or any form of automated execution. There is no MetaTrader access, no public API, and consequently no VPS hosting service, because there's no automated infrastructure. Every trade, including signal-based trades and tournament entries, is placed manually by the trader.

Traders whose strategy depends on systematic, automated execution should look elsewhere entirely. Quotex is designed for manual trading, from its digital options to its built-in signals tool, rather than automated trading.

Quotex vs. Brokers Comparison

Of the three digital and fixed-time platforms we’ve reviewed recently, Quotex has weaker regulatory standing than Olymp Trade and Binomo. It is the only one among them without any active government or industry certification. Quotex has a good selection of indicators and instruments. Its tournament and signals features add real features beyond basic trading. However, the regulatory limitation is significant enough that it should be considered mainly in any direct comparison between the three.

In simple terms, Quotex offers more features for the same $10 entry point, but less regulatory protection if something goes wrong. It depends on how much money you plan to risk and how important dispute support is to you. This trade-off may be acceptable for traders using a small amount they can afford to lose just to try the platform.  For traders planning to invest larger amounts over time, the regulatory difference between Quotex and its competitors is important to consider.

Not Suitable For

• Traders who specifically want an actively regulated or currently certified broker as Quotex's last known industry certification expired in 2021 and has not been renewed
• Traders concerned about third-party dispute resolution as Quotex is not currently a member of the International Financial Commission or FMRRC
• Indian residents due to Quotex's presence on the RBI's alert list since 2022
• Traders in Italy, Spain, or Portugal, where local regulators have separately flagged Quotex for unauthorized operation
• iPhone users specifically, due to the absence of any official iOS app
• Traders who rely mainly on automated trading signals as our testing found the built-in tool's real-world accuracy fell short of its marketed figure
• Traders who need MetaTrader, cTrader, or algorithmic trading support as none of these exist on Quotex's platform
• Traders who want the strongest available compensation protection in this broker category, as Olymp Trade and Binomo both currently maintain active industry certifications Quotex does not

Choose Quotex If… / Don't Choose If…

Choose Quotex If:

• You want to try digital options trading with a very low $10 minimum deposit and a feature-rich web platform
• You're an Android user who wants native mobile access alongside the desktop-equivalent web experience
• You want a larger instrument catalog than some direct competitors, particularly across stock-based digital options
• You want to test the platform risk-free first, as the demo account requires no ID verification or deposit
• You're specifically interested in trading tournaments as a secondary feature alongside standard trading
• You have already accepted that no active regulator or industry certification currently stands behind the platform, and you're sizing your risk accordingly

Don't Choose Quotex If:

• You live in India, Italy, Spain, or Portugal, all of which have specific regulatory flags against Quotex
• You want a platform with an active, current regulatory license or industry certification
• You're an iPhone user who wants a dedicated native app rather than the mobile web experience
• You plan to rely on the built-in signals tool as your primary trading input, due to the difference we found between marketed and observed accuracy
• You want algorithmic trading or API access, as Quotex offers neither

Conclusion

Quotex is a simple and proficient digital options platform. Our tests found that trades settled on time, the web platform offers plenty of features, and the $10 minimum deposit keeps it easy to access. The tournament feature and built-in signals tool add matchless functionality. Even though our testing found that the signals tool did not match its advertised accuracy. We have to be most direct about the regulatory picture. Quotex’s last known IFMRRC certification expired in November 2021 and has not been renewed. The platform currently has no active government or industry oversight.

A Financial Commission warning about trader complaints, Quotex’s listing on India’s RBI alert list, and warnings from regulators in Italy, Spain, and Portugal show a weaker regulatory position than Olymp Trade and Binomo. This does not prove that Quotex is doing anything wrong. Our own testing of trade settlement and withdrawal processing found it functioning as advertised. However, Quotex offers less protection than its main competitors, so traders should consider this before depositing.

Our Verdict: Quotex earns a BP Score™ of 62/100 as an accessible digital options platform. Traders should understand that it currently has no active regulatory or industry certification and should risk only what they can afford to lose. Olymp Trade or Binomo will better serve the traders who want a fixed-time or digital options platform with at least some form of current third-party oversight. Traders looking for regulated CFD or forex trading should consider a Tier-1-licensed broker.